Dover waterfront renderings released

DOVER — The Cochecho Waterfront Development Advisory Committee Tuesday was presented with preliminary artist renderings for the planned waterfront district across from George’s Marina.

Plans for the 29-acre parcel have been discussed for decades, and final concept plans were presented to the committee in March.

The current plan, put together by Union Studio, the firm working with the city on the project, calls for 226 residential units, 9,000 square feet of commercial space and a 4,000-square-foot restaurant to be built on the land. The plan also calls for green space corridors to the waterfront and 64 covered parking spaces for apartments on the east side of the parcel.

On Tuesday, the committee discussed Union Studio’s renderings for the project.

“These are not final,” said City Planner Steve Bird. “But they give an idea of the committee’s vision for the project.”

Bird said the Waterfront panel came up with several minor revision requests for Union Studio.

The renderings may be used as part of a request for qualifications for developers for the site. Bird said a timetable for sending out the request remains unclear, but he hopes to have it ready to go by the end of the summer.

The committee also discussed the plans to begin excavation of the bluffs on site. Severino Trucking signed a $862,060 contract with the city in June to remove the bluffs in order to prepare the site for development.

According to Bird, state permits to begin removing the bluffs on site are moving forward. However, an archaeological review of the site found some elements of the land that could be of significance, and a secondary assessment has been recommended before major work can begin. Bird said the significance of the site is not yet known, but it is not uncommon for a secondary review to be recommended.

“That’s not necessarily good news because it means hiring a company to do (the) assessment,” Bird said.

The timeframe and cost for a secondary archaeological investigation remains unclear.

Work is expected to begin later this year on the waterfront park dock, the first project for the public park planned for the site.

To help finance the development of the site, the city created a tax increment finance district around the parcel. This allows the city to support future development of the district with an initial investment in the riverfront park project. Any additional tax revenue from increased property value as a result of improvements can be "captured" by the city and used to pay for future improvements.

A TIF district can be established by a city to capture all or part of new property taxes generated by new development and value within the district to fund infrastructure improvements within the district. When the district is established, the current tax rate is taken as a baseline, and all property taxes generated up to that level go to the general fund. Additional revenues from increased property value contribute to the TIF fund. A TIF district does not affect the property tax rate.

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